The demand function for a product sold by an oligopolist operating in the short run is given below:
QD = 370 - P
The firm's marginal cost function is given below:
MC = 10 + 4Q
Calculate the profit-maximizing price and quantity, if the firm operates in the short run.© BrainMass Inc. brainmass.com March 4, 2021, 8:55 pm ad1c9bdddf
Let Q be profit maximizing quantity and P be the corresponding price
Demand at this ...
Solution explains the steps in finding profit maximising output and price for oligopolist in short run.